Tilting Capital Corp.

February 25, 2016 16:52 ET

Tilting Capital Corp. Provides Corporate Update

CALGARY, ALBERTA--(Marketwired - Feb. 25, 2016) - Tilting Capital Corp. (the "Corporation" or "Tilting") (NEX:TLL.H) announces that the merger agreement between Tilting and ArcScan, Inc. ("ArcScan"), as disclosed in the news releases of Tilting dated July 2, 2015, August 24, 2015 and November 6, 2015, has lapsed and was not extended due to current capital market conditions. Tilting currently holds two investments in the Life Sciences industry, which includes a 10% senior secured loan in the amount of $650,000 with ArcScan that matures on November 30, 2016 with interest being payable semi-annually and approximately 1.3 million shares of MMJ PhytoTech Limited ("MMJ"), a Medical Cannabis company listed on the Australian Stock Exchange. The shares of MMJ had a closing price of AUD$0.325 (CAD$0.32) as at February 24, 2016. Tilting is very optimistic with respect to its investments in ArcScan and MMJ and will continue to actively explore and pursue other investment and merger opportunities as they present themselves. Tilting welcomes the opportunity to be a vehicle and/or a source of capital for early start-up companies.

The Corporation will issue a further news release once the TSX Venture Exchange has approved the resumption of trading of the Corporation's common shares.

Neither the NEX Board, TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Tilting Capital Corp.
    Scott P. Hayduk
    (403) 560-4951